Resources Connection (RECN) Announces Earnings Results

Resources Connection (NASDAQ:RECN) announced its quarterly earnings data on Wednesday. The business services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.05, Briefing.com reports. The firm had revenue of $156.70 million during the quarter, compared to analyst estimates of $152.91 million. Resources Connection had a net margin of 2.60% and a return on equity of 8.08%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS.

Shares of Resources Connection (NASDAQ:RECN) traded down $0.40 during mid-day trading on Thursday, reaching $15.25. 250,600 shares of the company traded hands, compared to its average volume of 211,250. Resources Connection has a one year low of $12.05 and a one year high of $19.80. The stock has a market cap of $459.45, a P/E ratio of 26.29 and a beta of 1.18. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.20.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 14th. Investors of record on Thursday, November 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Wednesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is 82.76%.

RECN has been the subject of several research reports. Robert W. Baird restated a “hold” rating and issued a $15.00 price objective on shares of Resources Connection in a report on Friday, November 10th. BidaskClub downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. JPMorgan Chase & Co. downgraded shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research report on Thursday. Deutsche Bank reaffirmed a “sell” rating and issued a $13.00 target price (up from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. Finally, Zacks Investment Research downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $15.25.

COPYRIGHT VIOLATION WARNING: “Resources Connection (RECN) Announces Earnings Results” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2018/01/03/resources-connection-recn-issues-earnings-results-beats-estimates-by-0-09-eps.html.

Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

Earnings History for Resources Connection (NASDAQ:RECN)

Receive News & Ratings for Resources Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply